The digital bank calls Portugal a ‘key fintech hub in Europe’.
Revolut plans to create up to 400 new jobs in Portugal as the digital bank opens 1,000 new accounts a day in the southern European nation.
The London-based start-up with six million customers across Europe has also appointed three senior managers to help lead its growing team.
Revolut has 250,000 customers in Portugal, with one of the bank’s co-founders adding that the country is emerging as a “key fintech hub in Europe”.
The fintech has appointed Ricardo Macieira as growth manager, who will be responsible for developing Revolut's business in the country. Macieira was formerly the country manager for Airbnb in Portugal.
New Porto headquarters
It has also hired Rebeca Venâncio who will head the firm’s public relations. She joins from Microsoft in Portugal where she worked in marketing and communications for almost three years.
Miguel Costa also joins the bank as community manager, and is tasked with raising levels of customer engagement. He has previously worked for such firms as MOG and Nomad Tech.
Revolut currently has around 70 customer support workers in Porto, northwest Portugal. But plans to boost this to 400 staff, covering complaints, investigations and compliance.
The firm adds that construction work is in progress on a new building to house its new staff on the site of an old sardine cannery in Matosinhos, in northern Porto. The bank said the new office should be completed later this year.
Key European fintech hub
Revolut was founded in 2015 by former Credit Suisse trader Nik Storonsky (pictured) and former Deutsche Bank systems engineer Vlad Yatsenko.
Storonsky said: “Portugal is quickly emerging itself as a key fintech hub in Europe.”
He added: “Last year, during my trip to WebSummit in Lisbon, it became very clear to me that the country was fully embracing all the benefits that financial technology has to offer.”
Revolut has a valuation of around $1.7bn and has raised around $340m in funding from such backers as Index Ventures, Ribbit Capital, Balderton Capital.